Germany’s Next Big Thing AG (NBT) Blockchain Project Garners $13.5 Million For IoT And DLT

Blockchain Company Builder NBT Receives $13.5 Million In Funding Round

The German blockchain startup Next Big Thing AG (NBT) was able to gather $13.5 million in a funding round. The firm focuses on the Internet of Things (IoT) and blockchain technology. The information was released in a press release a few days ago.

NBT Raises $13.5 Million In Funding Round

The firm has recently announced that they completed a Series A investment round that was led by the industrial insurance company HDI Global SE through Hannover Digital Invest. Other firms that participated from the funding round included FinLab EOS VC Fund.

HDI Global decided to invest in NBT so as to support the development of IoT and blockchain technologies focusing on machine economy. The press release cites Thomas Kuhnt, a member of the board of management of HDI Global SE, mentioning that the firm is not only investing but also participating in the constant development of new projects with the intention to expand its knowledge. In this way, the firm is able to improve and create new solutions.

Next Big Thing AG was founded back in 2016 and it works in 12 different national hubs. At the same time, the company is part of the Digital Hub Initiative, that gathers 12 national expertise hubs established by Germany’s Federal Ministry for Economic Affairs and Energy.

This is one of the many initiatives related to blockchain technology and IoT that started to expand in Germany. With the expansion of blockchain technology, new opportunities for firms and companies appeared.

In addition to it, the Swiss blockchain insurance transaction platform called B3i informed that it has added three new insurers and reinsurers to the group of investors.